Oireachtas Joint and Select Committees

Wednesday, 13 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Davitt:

Well, I think ... under normal circumstances when valuers would do valuations, I think lots of times different people, or different members of the community would call valuers because it depends on who they are valuing the property for - X, Y or Z. So in your situation, if you speak about bankers and you talk about developers, obviously valuers would take calls from bankers and developers because when you're doing up the valuation it is very important that you do get the value right because we're talking about a lot of money here. So ... if developers would call you and tell you "Look, are you taking this into consideration, are you taking that into consideration?", if bankers would call you and say "Are you taking this into consideration, are you taking that into consideration?", there's no problem in taking a telephone call from them and seeing are you .. have you got the correct information, have you got everything right. But to change the valuation up or down because somebody would ask you - it would be a very foolish valuer that would do that.